British Petroleum acquires 10% of Eni's share of "Zohr" gas field

Prime Minister Sherif Ismail witnessed today the agreement signed by the Egyptian Petroleum Minister Tarek Almolla, Claudio Descalzi Chief Executive Officer of Eni and Bob Dudley Group Chief Executive of British Petroleum, by which British Petroleum" acquired 10 ℅ of Eni’s share in Zohr gas field in Sherouk concession located in the Mediterranean Sea.

The agreement represents an example of Egypt's success in attracting global investments in the domain of exploration and production of natural gas, as Zohr is considered one of the biggest natural gas discoveries in the Mediterranean with total investments of 16 billion USD.

According to the master plan of the project, production of phase I will start by the end of 2017, with capacity of 1000 bcf/d reaching 2700 bcf/d in 2019.